Wondering what’s happening in the Mission Viejo real estate market? Just ask a Mission Viejo real estate broker. Inspired Realty, your trusted Mission Viejo real estate broker, shares this update.
Mission Viejo Sellers Market
When the supply of available housing falls short of the demand for housing, this exerts an upward force on the market. We call this a seller’s market and we call Mission Viejo a seller’s market in January of 2025.
Demand exceeds supply based on December 2024 numbers and the number of people displaced by the Los Angeles County fires only fuels more demand.
In December of 2024, there were fewer homes for sale than in November 2024.
Mission Viejo or Bust
Mission Viejo continues to be a popular location for people relocating from San Francisco and Seattle. This makes sense because its Orange County location makes commuting convenient.
And where do people who live in Mission Viejo move? They stay in Mission Viejo! An incredible 79% of Mission Viejo sellers searched to stay within the Mission Viejo area.
The same family-friendly environment jam-packed with amenities and activities that brings people in makes them want to stay once they arrive. This exerts even more pressure on the Mission Viejo market. Buying a home in Mission Viejo requires keeping a constant eye on the market as well as advance notice of properties soon to be available for sale. The key takeaway here is to work with someone with a network in this tight-knit community.
The Art of the Deal
Don’t enter this market without a Mission Viejo real estate broker in your corner. Most homes sell at or near the listing price.
In December, homes sold for 98.7% of the listing price. Now 18% of homes on the market experienced a drop in price, but that is not uncommon when sellers fail to follow their agent’s advice and price accordingly.
Picture yourself in this Mission Viejo home
The takeaway? Sellers represented by savvy Mission Viejo real estate agents price homes according to the market. This means you will expect to pay near asking price. On the other hand, sellers represented by brokers or agents that overprice the property are ripe for an offer under the asking price.
It takes a broker familiar with the Mission Viejo market to suss out the difference. That’s why you want a broker on your side. Like Joe Mueller and his team at Inspired Realty.